USDJPY & Crude oil analysis 05 october 2017

By | October 5, 2017

USD/JPY analysis

USD/JPY fired after US data last night . It made low near 112.30 and then tested 112.90 within hours after US data . Currently this major forex pair trading at 112.80 , a good support on daily chart stands at 112.48 , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this fx pair upto 112.08 – 111.70 today .

A good resistance on daily chart stands at 113.10 , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect this fx pair upto 113.45 – 113.80 .

USD/JPY analysis conclusion : Trend is positive for this major forex pair , avoid any selling at this point .

Crude oil analysis

US crude oil price trading at 50.10 , despite positive inventory for prices , Crude could not sustain on higher levels . A good base level on daily chart stands at 49.40$ , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this black gold upto 48.70$ – 48$ today .

A good hurdle on daily chart stands at 50.75$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower in oil price upto 51.30$ – 51.90$ .

Crude oil analysis conclusion : Trend is flat to weak for now , avoid major buy before market hit our resistance .

Silver & Gold levels remain same as yesterday as market is trading in same range only . Read our yesterday’s technical analysis on precious metals here

More will update to our trading signals subscribers .